Silver getting crushed today

Lon haul is the key here. When sliver goes up, I celebrate. When it goes down, I buy more and then celebrate. It's always a win!

 

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Buy!!!

Who's Lon?

 

Long haul. Whoops

 

Yeah, I feel the same way. Going to coin show tomorrow and will probably get a few ounces if I can get something really close to melt.

 

Buying opportunity.

 

I'm thinking about buying a gold eagle, which I do periodically as an investment hedge, but it seems PMs are in something of a no-man's-land where it's impossible to even guess what the next sustained price trend will go.

Sort of like the stock and bond markets.

 

BUY, BUY, BUY!!!!!

 

Well my bullion dealer is E.F. Hutton's cousin's brother's barber... And he says...

Oh wait, I'll be right back.

 

Me

 

I'm not too concerned if I pay 10% over melt, it will probably be melt sooner or later, and since I buy mostly useable silver like bowls and vases, I can call that extra the use value.

I have people who run silver past me before taking it to the bullion dealers, for that extra amount I will pay for nice pieces.

I have saved some good stuff, including many coins, from the melting pot.

 

Down to $19.03 as I type. I've been buying a lot at the $19.43-$19.75 range. Lame. If it falls below $18.50 I start losing money.

 

Sorry, it's my fault. I finally bought some silver the other day, so of course it went down, lol.

The best option for you to not lose money is to sell before it hits that $18.50 mark (says Capt. Obvious). Personally, I would like it to dip down to where it was in April/May, so I can get a monster box below $10k, now that I have the cash freed up. Should have bought it when silver was just below $9k for a brief period
Either way, I'm good. Probably sitting on half a year's take home at the moment.

 

A lot of dealers are charging under spot now for buy back because they have plenty of silver in stock and looks like it's going down.

 

$ 18.84 as we speak

 

I bought at the $19-$20 range. If it gets back down to $16 then I will consider purchasing again. Thanks to my purchase off the Govmint site for ASE's and some 10oz coin roll hunting my average is lower at $18.50 per ounce.

 

Lon Haul. Didn't he pitch middle relief for the Phillies in the late 60's? Wait, that guy's name was Houl. Different guy.

Meanwhile, silver's looking a little shaky again today (until it doesn't). I'm not sure why it ever broke above $20 in the first place. Dead cat bounce?

 

Do dogs bounce?

 

Everything bounces if you throw it down hard enough...

Calling silver a "dog" when in the last year it's up this far is kinda bitter. Maybe you were one of those "waiting" for $8 silver?

I realized a healthy profit this summer by getting rid of about 15 pounds of misc junk and scrap sterling I collected last year, and I'm now holding the higher end stuff and coinage, and buying very selectively when opportunities come up.

On the other side of things, I stayed out of the market all summer expecting a big correction - that hasn't happened yet (I still think stocks are being manipulated for the election so everything "appears fine"). Tech companies are laying off in droves, and the correction is coming.

I didn't time the stock market very well - but I haven't lost anything either.

 

I don't use silver or gold as income streams. I consider them a long term (decade or two) savings/store of wealth so price isn't a huge concern to me but value is.

With current levels of debt and future obligations, the value of a certain "something" is sure to fall but I'm convinced it won't be PM's. Not unless the world suffers a massive population decline or new, massive sources of PM's are discovered and brought to market.

"Price is set at the margin" and under the current paradigm, one entity has access to infinite money. This entity has the power to set the "price" of every market (temporarily) but not the value (infinitely).